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20131028
20131105
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care. and then deval did the right thing by picking up the torch and working to make the law work even better. and it's because you guys had a proven model that we built the affordable care act on this template of proven bipartisan success. your law was the model for the nation's law. so, let's look what's happened. today the affordable care act requires insurance companies to abide by some of the strongest consumer protections this country has ever known. a true patients bill of rights. no more discriminating against kids with preexisting conditions. no more dropping your policy when you get sick and need it most. no more lifetime limits or restricted annual limits. most plans -- most plans now have to cover free preventive care like mammograms and birth control. young people can stay on their parents' plan until they turn 26. all of this is in place right now. it is working right now. now, the last element of this began on october 1st, when the affordable care act created a new marketplace for quality, private insurance plans, for the 15% or so of americans who don't have health care
, chairman upton, that this is the law? you know, they have this whole thing, this is the existing law, this is the current law that passes the supreme court, blah, blah, blah. this is the law, and worry not going to change the law? >> well, how did they change the law for the employer mandate for a year? it happens, that's the way it goes. they are given lots of waivers. let's see regulations, delayed or imposed that say, hey, if you like the health insurance and you were insured earlier this year, can you keep it, worry not going to impose that penalty on you later on. >> i am staggered to lead, there are tweets about this, fred, and other things that valerie jared, the top adviser and jake carney are now blaming insurance companies for can selling plans within they are forced to by the obama care mandates. >> are you exactly right. it not their fault and, you know, we knew early on, private and mutual, cancelled a million policy, i think they announced that a year, a year-and-a-half ago something like that for people across the country. so they knew what they were getting into. the
's turned out to be the truth? do we -- we do a health care law reality check coming up with mark bertolini of aetna in a moment. >>> top white house adviser valerie jarrett tweeting nothing in obama care forces people out of their health plans. and nothing in the law is forcing insurance companies to tell people their plans are no longer offered. where's the discounnect. >> we'll do the fact-check when we speak exclusively to mark bertolini of aetna. stay tuned. ♪ [ male announcer ] when we built the cadillac ats from the ground up to be the world's best sport sedan... ♪ ...people noticed. ♪ the cadillac ats -- 2013 north american car of the year. lease this cadillac ats for around $299 per month with premium care maintenance included. at bny mellon, our business is investments. managing them, moving them, making them work. we oversee 20% of the world's financial assets. and that gives us scale and insight no one else has. investment management combined with investment servicing. bringing the power of investments to people's lives. invested in the world. bny mellon. female narrator:
, insurance policies that were in effect on march 23rd, 2010, when the law was enacted would be grandfathered. then a few months later despite the president's word, you all at hhs helped promulgate a new reg that in your own review showed it effectively could deny perhaps as many as more than 50%, maybe even higher of those holding individual policies the right to renew their own insurance plan. and i would guess that there are a lot of us on this panel today that are hearing from angry and confuse confused constituents, who are now being forced to go on to a an inept web site, whether they like it or not, to shop for a new roo plaeplacement policy, f premiums as high as 100% before and some up to 400% higher that i've heard from as well rising deductibl deductibles. when was the president informed of the regulation change? if so, was he informed this totally undermines his biggest selling point. in a statement each made more than three years after the regulation change was promulgated, the president said again, "the first thing u need to know is this -- if you have already have health care,
:20 this morning from multiple witnesses, and law enforcement officials, reportedly a man with a gun goes up to one of the checkpoints, a rifle, starts opening fire. reports are so far that at least two people have been shot but it's still unclear how many. we also saw several people being loaded into ambulances, including what look to be a tsa agent, also according to witnesses multiple shots fired, nick pugh told us he was on the upper mezzanine and heard eight to ten shots that were fired and two separate moments. everybody just ducked to the ground. >> dropped to the floor. >> in fear, people afraid to run because they didn't have any place to go. if you went down you were going towards the incident and didn't know if there was anything coming from outside. >> i believe we have another witness joining us now on the phone. tom, are you joining us? >> yes, i'm here. >> tom, tell us what you saw. where you were when this took place. >> i was in terminal three the virin america terminal and you could hear shots, popping sounds, people started running from the center area of the terminal out towards
law with its thousands of employees. also sprint ceo, dan hesse. mobility a huge issue. if there may be more consolidation in the telecom industry. softbank acquired 80% of sprint. >> trying to upgrade the spectrum for them. then on this halloween, easily the scariest, most horrifying story we can find. this morgan stanley report that says the world is running out of wine. >> what? >> i can hear our viewers now. >> what? [ screaming ] >> yes, we hear you, viewers. we'll have that story coming up a little bit later on "closing bell." won't we, maria? >> we will. let's check the markets as we approach this final hour for the month. dow jones industrial average off the highs down in negative territory, seven points. 15,611. strong october. the month very strong. we're ending on a mixed note. nasdaq composite actually higher today. although it, too, is coming off of the highs of the day. 3932. s&p 500 where we are looking at a fraction on the upside. quarter point. 1763. steady moves. >> very steady moves. on this halloween the man they call sugar daddy. here's bob pisani with a look at
of internet gambling, which is against the law, yet is thriving in this country. but first, my report about one of the biggest scandals in the history of online gambling. a small group of people managed to cheat players out of more than $20 million, and it would have gone undetected if it hadn't been for the players themselves, who used the internet to root out the corruption. as a joint investigation by 60 minutes and the washington post revealed in 2008, it raises new questions about the integrity and security of the shadowy and highly profitable business that operates outside u.s. law. >> moneymaker puts his name amongst the greatest players in the game! >> if you had to pick the moment that the poker boom began, it was probably the day an unknown accountant named chris moneymaker won $2.5 million at the 2003 world series of poker. suddenly, every amateur with a hat, sunglasses, and a stack of chips saw themselves as the next big moneymaker. nearly 7,000 people competed in this year's tournament for $180 million in prize money, but the fever has spread far beyond las vegas. it is the ric
will defend his health care law. verizon said it was doing maintenance on the system. there was a similar halt on sunday. we'll have more on these stories in just a few minutes. >>> but first, the rest of today's agenda, earnings central will be hearing from general motors, nbc parent comcast, chrysler, corning and sodastream, all before the bell. this afternoon, we have visa, facebook, comcast, kraft foods and many others. on the economic front, the fed wraps up a two-day fomc meeting in washington. this is a policy announcement set tore 2:00 p.m. eastern today. the central bank is expected to maintain its massive bond buying campaign. fed watchers say ben bernanke and company may point to softer readings on the economy to signal that the policy will be extended into next year. >>> as for the other items on today's economic agenda, the october adp employment report is going to be released at 8:15 eastern time. it's expected to show 150,000 private jobs were added this month. the whisper number, though, is below that. we'll see what happens. coming up at 8:30 eastern time, we have the septembe
. and legal briefs too. two huge stories in the world of law, one involves a merger that could mean hundreds of legal -- my goodness, legal briefs, hundreds of layoffs, not sure i will get through this. a memo that has everybody talking about the place of young women in the business world and how they should dress and act. first to sue at the nyse. >> my, my, my. stocks having a so-so day but we're at or near record levels for several indices, close to dow 16,000 than 15,000. the nasdaq 65 points from 4,000. where is the retail investor in all of this? mary thompson found out. >> hey, sue. data suggest the retail investor remains cautious with the markets at record highs. outflows continue while trading activity at discount brokerages is modest. investors began pulling money out of stock funds in may of 2011. since then, u.s. equity funds have seen net monthly outflows in 25 of the last 28 months through august. the september numbers aren't final but weekly figures suggest the exodus continued in the two weeks out of the three recorded so far for october. so recent data from discount brokera
, but successful health care reform law. listen to this one. >> and by the way, all the -- all the parade of horribles, the worst predictions about health care reform in massachusetts never came true. >> all right. now cnbc had a special producer fact-checking the president's speech and he looked into this claim right away and here are some pack, okay? premiums in massachusetts have soared. they have the most expensive individual insurance premiums in the country. we also know that emergency room and doctor waiting times are among the highest in the country and let's not forget that taxes and spending in recent years to support the plan are under governor duval patrick have gone up substantially. we'll look at more of the claims by president obama in just a moment, but first, president obama now not the only one stonewalling for his health care plan. secretary secretary kathleen sebelius trying to get some answers about the disastrous obama care rollout. nbc news steve handelsman joins us. >> part of the parade of horribles as president obama calls it is millions of americans losing their
to the airport gates. nbc news, according to law enforcement officials, say he's paul anthony ciancia, 23 years old, u.s. citizen. apparently not related to the tsa. there were conflicting reports earlier. authorities say seven people in all were injured. six taken to local hospitals. ciancia's condition is not known but apparently he was shot by police. authorities at the airport say that the situation is static now. that operations in some parts of the airport will be back to normal but not necessarily in terminal 3, which includes allegiant, frontier, jetblue and virgin america. there have been ripple effects in traffic control system across the country as traffic was stopped, ground hold, for flights headed to los angeles and all the way across the country in new york. the port authority of new york and new jersey says it has stepped up patrols at three new york area airports just in case. but no direct result, they say, in terms of air traffic from the situation at l.a.x. back to you. >> scott, thank you. let's actually get more details on the impact it's had on the airport itself and the
of our surrounding law enforcement partners in this particular effort. and in california, and especially in los angeles, there is not an incident that can be run singularly by any one person or agency. it is a combined effort. i have to say nothing is ever perfect, but here our relationships work well together, and i think everybody performed well. there will be things that we can improve, but nonetheless i think this overall worked very, very well. i'll turn it back to the mayor. >> we'll take questions in just one moment. next we're going to hear from chief beck who is the chief of the los angeles police department who had staff resources that were already predeployed here and many more joined us today. >> we may rejoin this press conference if there is any brand-new information. we're going keep a close eye on it as you can imagine. but let's go to former fbi assistant director chris zwecker, and with us is former tsa administrator and former deputy homeland secretary jim loy. gentlemen, thank you very much. mr. loy, may i begin with you? the airport police chief was talking about whe
. >> with rates moving higher. elbattled new health care law, president due to give a speech defending the health care law, you'll see it live in about an hour, and we'll have reaction from two people who had their insurance can delled due to the law. he can win them back? >> starbucks ceo howard schultz with be with us. he's been a big supporter of obama care. we'll get his take on the rollout problems. and then reports on their earnings in about an hour. howard will break down those numbers for us. let's not forget about facebook either. the social media giant will be reporting after the bell tonight. we'll have those numbers. instant analysis as only "closing bell" can do it. a very jam-packed show today. >> let's approach the markets in the final hour. we're well off the highs with a decline in the session of 67 points. pushing the dow back from the records reached at 15,612. onto the nasdaq, seeing selling in technology as well. nasdaq lower at 26 points. it, too, coming off the highs which were down but we really worsened after the news from the fed. s&p 500 looks like this. similar chart p
of the year because those policies do not comply with the law. they're getting their notices right now. so president obama has promised repeatedly, that if you like your plan, you can keep your plan. so what happens to all those people now that they realize they actually can't keep their plan? >> there's about 900,000 people who are going to get -- 600,000, before today, they would have been locked into their health plan, now they can pick between different health plans and every health plan that they pick is going to have benefits they can rely on. you may have insurance that you might not really be covered when you need it. >> are the new plans on the exchanges really comparable? the law mandates certain minimums that people have to buy whether they need them or not. a man being forced to take on prenatal care. >> let's be clear, a woman has to pay for the men to get their prostate cancer fixed. lets be clear, we're not putting together an insurance system where you only pay for the services you need in that year, that would be paying as you go and not having insurance. the idea is that
premiums. also, more democrats are starting to push back against the law. including senator mary landrieu who was working on a bill to allow americans to really keep their own health plans. and congressman darrell issa has subpoenaed secretary sebelius for the information regarding the botched healthcare.gov launch she so far declined to hand over voluntarily. all right. all those stories and more. on "the kudlow report" starting right now. this is just unbelievable. all right. now, we've got all this developing news here to analyze the whole story. we bring in bob lashevski. dr. scott gottlieb joins us, american enterprise resident fellow. and ovik roy, senior fellow at the manhattan institute. gentlemen, welcome. ovik, let yes just start with you. this is a quick one, but i want to get it out. darrell issa subpoenaing sebelius. she won't come clean. he's been asking for documents, inside documents. who, what, where, what did the contractors tell her, what's it going to cost? >> i think it's a very significant development. as you said, sebelius has been stone walling. there's so much imp
-involved shooting. in other words, that's when the suspect was in law enforcement parlance neutralized by parent police. we do not know the condition of the suspect. nbc news is reporting, and airport officials are not confirming, that there is a dead tsa agent. the tsa's union is also saying one of its agents was killed in this incident and at least three others are injured. now authorities at l.a.x. are saying that, in fact, there were a total of seven injured, six seriously enough to be taken to local hospitals. the air traffic situation remains somewhat in chaos. but there is a portion of the airport at least that is open and to some degree accepting flights. but there has been a ground stop under way for much of the afternoon. we're about three hours into this incident. again, still trying to get the details. one more, public mass shooting, at l.a.x., involving a semi-automatic assault rifle. the suspect is either in custody or dead, beginning on who you believe. that's not clear. seven people injured. six taken to hospitals. we'll continue to try to sort all of this out. back to you. >> sc
that they pass. some of the ocsea laws don't apply -- >> it was weird that grassley introduced it to try to put the heat on his democratic colleagues to have them have to do it. now all of his people have to do it. >> we'll see where the rest of these stories come down. also, though, we should tell you about the treasury department announcing americans who use flexible spending accounts for heths care costs may now be able to carry up to $500 of expiring money into the next year. traditionally, if you had an fsa, you faced a use it or lose it deadline of december 3 e. this was your money. you could put up to $2,500 aside. if you didn't lose it, though, you lost that money. >> this is a big deal. >> for 500 bucks. >> yes. there's people all over the country losing this money regularly. the big question becomes companies like wage works and others -- >> wageworks stinks. >> that administer these programs, the money for them is in taking the -- is in the money that you don't use. >> i know. i don't do this any more. wage works is a terrible program. i don't do it any more because they try and go a
their existing policies don't meet the standards mandated by the new health care law. one number predicts the number could reach as high at 18% for those new people. many will experience the sticker shock. the white house is pushing back on this report. a white house press equity is tweeting that the nbc scoop, in parentheses sites normal turnover in the individual insurance market that's a, new new, b, not caused by the aca, and c, the problem aca will solve. lisa myers broke this story and will join us at 7:00 eastern with more. >> that is misleading, the response to it. because they were going to grandfather initially people that were in certain plans and then the rules were tightened by hhs to where the grandfather wouldn't count for anyone who had a change in policy. and they change every rear. >> and by the way, insurance policies change frequently. >> and the men you change it, you're not grandfathered. >> they can change the deductible by $ 00 and your insurance plan would no longer qualify. and barack obama, when i was campaigning on this was saying if you like your plan, you can
, get the website up by november 30th as they've said, in time for people to buy the coverage that law requires them to have in 2014. if they can't get that working, and people can't get that coverage, that is a betrayal of the core promise of obama care and that would be the point at which you would see democrats peeling off. i think this is a problem, the one you and michele were discussing and the white house was telling a part of the truth, not the whole truth, and they set out by design to change the individual market and the president didn't really love with people about what was going to happen on that market because a whole lot of changes have come to pass. in response to your question earlier, tyler, i think the predominance of what the president was talking about, employer based coverage as most americans do, you would be able to keep that unless the employer dropped it. that is the case. those of us at nbc or other large companies who have health insurance, this, the obama care new rules don't affect us because our plans meet those rules. it was by design they raise the stan
that it is too big to jail. that is a moral hazard that a just society can ill afford. law enforcement should not shy away from holding institutions responsible when it is justified and necessary for both deterrents and accountability. whether the misbehaving corporation is a hedge fund or a commercial bank or a manufacturer of a popular product because sometimes institutional punishment is essential to serve justice and to deter misconduct. today, one of the world's largest and most powerful hedge funds agreed to plead guilty, to shutdown its outside investment business and pay the largest fine in history for insider trading offenses. that is the just and appropriate price in our view for the pervasive and unprecedented institutional misconduct that occurred here. now let me call to the podium april brooks, our partner from the fbi. >> good afternoon. in 2006, with new information about rife and unbridled trading at hedge funds the fbi went to work. after examining trading anomalies poring over documents, conducting surveillances and making the first approach to a key target, that individual
their minds. that is a bad new for the government. confidence in the new health care law, this is really bad for the president. less confident, 40% of americans now say they are less confidence in the health care law. that is attributable to this botched rollout. it hasn't even captured some of the most recent bad news data that we've had here in the headlines now that we're up to october 31st. also republicans not fairing very well in this at all, either. and this is sort of a hangover here from the government shutdown. view of the republican party very positive, just 6%. negative and very negative, 23% and 30%. that's a 53% negative rating for the republican party. so it's really a pox on all your houses here in washington, d.c. bad poll numbers for just about everybody. but for the president, this is a bad one, 42% approval. now it's also true that his personal favorbility, that's up and down. that's something that the president has been able to rely on. now we're starting to see that number slipping, as well. and 70% ooh americans say the country is simply on the wrong track. that is a b
million people who are supposed to get new health coverage under the law, half of that is under medicaid and half of that is under the exchanges. the numbers have changed since then because a number of the states have opted out of the medicaid expansion. but in general the exchanges in theory should provide a better insurance product than medicaid. medicaid's outcomes are terrible because you really don't have access to a doctor because a lot of doctors don't take medicaid. with the exchanges, the government is saying the plans have to cover all these different thing, you have to charge the same rate to the healthy and sick and that doubles the cost of insurance for a lot of people. >> when you put in the medicaid piece, these numbers start adding up. this is somebody nobody in the white house or administration has talked about, is what's going to happen to medicaid, which i think is in the worst shape of any of our entitlements, likely to go bankrupt -- >> i think you have the medicaid story pretty wrong here. because of the supreme court decision, there's going to be fewer people with
and their doctors, they would be able to keep them under the new law. but nbc news is reporting the obama administration knew for several years the majority of people who buy their own health coverage wouldn't be able to keep this happen their policies under obama care. nbc says those forced to buy new insurance may experience sticker shock from higher premiums. when the law was passed in march of 2010, it was supposed to grant grandfather in existing policies, even if they didn't comply with the rules. but that same year, the department of health and human services rewrote some regulations essentially getting rid of the grandfather exemption. now, the white house isn't disputing the report, but tells nbc most individual policyholders should receive better health coverage that's more affordable thanks to government subsidies. the administration says no policy will be canceled due to pre-existing medical conditions. now, congress will get the chance today to grill the top administration official closest to the rollout of the troubled obama care website. medicare chief marilyn tavenner will
. brazil's current bankruptcy regime became law just eight years ago, 2005. and although it's broadly modelled on u.s. bankruptcy law chapter 11, it's still relatively untested, hasn't been a lot of time for legal precedents to be set. so key questions for investors. how long is the ogx proceedings going to take? this is the largest corporate bankruptcy in latin american history. $5 billion. before brazil's new law, proceedings took an enormously long time. yes, the time has improved now because of the special new courts. but can they handle something this big? two, will creditors be treated fairly? when a company goes bankrupt, they owe a lot of money to a lot of people that they don't have. in the world of corporate restructuring, there's a frequent phrase used, equal burden sharing. when it comes down to who's going to lose money, the concept is that the burden of losses should be equally shared among equal creditors. will that happen here? and number three, what if ogx management doesn't actually act in the best interest of ogx? what if instead they act in the interest of batista'
with us. that's foreign tax laws. >> ours is 35% here. >> if you want to look at what they paid, i wouldn't include foreign. i'd love to see what they pay to the u.s. and other nations. >> they don't pay stuff to the u.s. because we're -- but we're induced to move our operations over there. >> i would like to see the breakdown between what they're paying here -- >> obviously they pay less on average in foreign countries but the total that they pay us -- >> means they pay above 35% here in the united states. >> right. >> i would love to see the breakdown. >> see what i mean? >> like -- >> but they can't be competitive. they can't be competitive with the rest of the world until we pay -- >> i think that is a smart study, 2004 to 2010 to see what they were paying. >> wouldn't do any good to look at what they were paying in the united states. >> sthant what the 2010 mums are? just the u.s.? >> look, the 35% plus is what you're paying on earnings. >> right. >> the rest of the world is not paying 35% plus. >> i would like to compare apples to apples. >> if it comes out above 35% with lower -- >
the benefits offered under the law. they're being offered new plans which oftentimes for those who don't have subsidies are proving to be more expensive. that is proving to be a big rallying cry on capitol hill. so kathleen sebelius will likely get a double barrel bit of controversy today. >> we'll see what happens. you look good with congress behind you. you do a better job than most -- >> yeah, thanks. i like my job very much better. >> i don't blame you. good to see you. >>> now, the opening bell for the nasdaq today will be rung from dublin. why is that? well, it's the reason we sent karen cho there who is in the irish city. why is the nasdaq opening their bell today? >> about 10,000 people attending this web summit are finding a story in ireland that's not about austerity and one that's about growth. it's been, of course, international furor going off the technology business to become the next silicone valley in an unfair way, using a rather attractive tax structure. but in some ways, this is a big public relations exercise over the next couple of days to prove there is more to technolog
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. what are you seeing? has it had an impact, the law? >> the law, i haven't seen a direct impact at aig at this point in time. i think the intent would be that if we could bring down the overall cost of the health care system, i think that would begin to benefit aig. i'm concerned that with more access, which is what's been accomplished without tort reform, without dealing with undocumented citizens in our country today, who access the health care system but can't access the insurance, until we deal with immigration, i think that there's a concern that the overall costs will rise because of what they're attempting to cover. that cost will be born by all of us. >> of course. what's your guidance for the market in terms of this quarter? this is what you're going to be talking about, obviously, with analysts. they want guidance and outlook for next year. >> we're not giving guidance. one of the things we did do was have aspirational goals. what what did when we went public. ipo, i should say, not public. people want to say what could aig accomplish some day? we had the aspirational goals.
of broken promises and fundamental dishonesty. >>> and here's the latest blow to the new law. a new study predicts as many as 129 million americans will be dropped by their current plans and be forced to buy much more expensive plans instead. the author of that study is going to join us live. >>> and we're just a few hours away from election day. two key races in new jersey. a big chris christie win might make him the gop presidential front-runner. and in virginia, can republican ken cuccinelli pull a fast closing upset? those races tomorrow night. all those stories and much more coming up in "the kudlow report" beginning right now. >>> good evening, everyone. i'm larry kudlow. this is "the kudlow report." we're live here at 7:00 p.m. eastern and 4:00 p.m. pacific. we have more headlines breaking today on the failure of obama care. here's the latest. a new study shows up to 129 people could lose their current health plans and face an average premium hike of 41% because of obama care rolls. we have more on that in just a couple minutes from the author of the study. >>> and documents acquir
who is now screaming that's against the law might not really be right. but let me reiterate what we are as well having in terms of reports coming out from the wall street journal. they are saying that president obama was informed about the spying on angela merkel from this summer and then he immediately stopped the spying on angela merkel among others. 35 international leading politicians. so that might actually be the case. that might actually be as well the opportunity of president obama saving his face in front of angela merkel and as well perhaps being a little bit of a cure to the german/united states relation. one thing is clear, they have been spying on angela merkel's phone and as well the relations between germany and washington or the united states are seriously damaged, at least for now. with that, back to you. >> yes. got to run. for now. thanks, annette at that. that's the latest from the german point of view. >>> meanwhile, more bad news. critical obama care websites crashed. the crashed data center determines eligibility for government subsidies. the company is workin
this week they agreed to submit to a mediators in the anti-trust case. if you're a like a law professor who specializes in anti-trust situations, you'll see that that was a memo to staff. here we go. "confessions of a street addict," it's great in any language. you don't to want play the airlines with us airways. nope. you want delta airlines. that's dal for you home gamers. not only is delta the best performer in the group but making charter member of 20 13 anointed stock club. but it also wins regardless of if the justice puts the kybosh on the merger delta remains top dog with structural advantages over the rest of the industry. and allow the stock to keepout performing the rest of the group. delta just recently passed united continental as largest carrier by traffic and passengers. delta and continental basically have a duopoly with spear your networks and more valuable frequent flyer programs. us airways can't challenge that if they aren't allowed to gobble up amr out of bankruptcy. on the other hand, if the deal does go through, that would be great news for us airways and i will pound
and the case for more national decision making on things like employment law. so, does this stack snup can we reform the e.u.? let's get a view of a fellow member. we're joined by the deputy prime minister of pole lan and the prime minister. thank you very much for joining us. you're going to go on stage when we finish speaking and talk about the e.u. what do you make of the cbi's position, what you've heard this morning? >> well, it sounds very much as if that was the polish government's position. it's almost exactly the same. we think that the e.u. is central to poland's growth prospects. we think it's central to europe's growth prospects. we think it's central to the u.k.'s growth prospects. we think it would be very bad for the u.k. and for europe and therefore for poland if the u.k. were ever to seriously think about leaving the union. >> this position that the government has is predicated on reforming the e.u. that's a big task, isn't it, to deliver a services single market in the e.u. we tried for years. we looked at the lisbon agenda as being an abject failure. >> the lisbon agenda wa
to such violation of law. >> i want to go back to the idea the banks will potential lil step away when they haven't previously. i'm curious why you believe that will be the case. obviously, family office is what they will become. that, i think, is already -- was set in stone before we saw the paperwork here. >> right. >> but why wouldn't i, if i'm goldman or morgan stanley or jpmorgan willing to finance the trades and leverage needed by the firm when it becomes a family office? >> the problem for you, if you're an investment bank firm or one of the types that you've indicated is, you'll never know whether his trades are legitimate or based on insider trading. if you start to fund those transactions and give him the kind of back office support he needs, you run the risk that you're facilitating insider trading. you're now on notice. i think there's going to be a long, hard, careful look by these banks as to whether they want to engage in that kind of risky proposition. >> that would be a big deal and a big change from what i think they expect will happen. >> why that is different now, harvey? we'v
. i'm lucky that i have a brother-in-law who is in his 90s and he was in world war ii and he got out when the wharton school and said, john, you ought to get some of this adp shares and now i have 300 of them. and as i read the annual report that came out this fall, it says, boy, business is going to boom. >> no, sir, it's a great stock. i know it's at its high. i don't care, that and paychex are great stocks. it'll be terrific. and that, ladies and gentlemen, is the conclusion of the "lightning round." >> the "lightning round" is sponsored by td ameritrade. l. it told him what was happening on the trading floor in real time. ♪ the shell brought him great fame. ♪ but then, one day, he noticed that everybody could have a magic seashell. [ indistinct talking ] [ male announcer ] right there in their trading platform. ♪ [ indistinct talking continues ] [ male announcer ] so the magic shell went back to being a...shell. get live squawks right in your trading platform with think or swim from td ameritrade. get live squawks right in your trading platform bny mellon combines investmen
those numbers are released in an hour. >> forget the glitches. it's when the new health care law actually works that many middle class americans are feeling the pain. citizens using huge and unexpected increases in premiums. two of them are with us. >> one premium went up ten times. ten times. >> that's amazing. >> it's been a trading day for the dow. we're up 16 right now, just off the highs at 15,586. they're just waiting for the apple numbers, the fed meeting this week. we're halfway through earning season, so a lot more to come. nasdaq has been trading a little lower here. similar trading pattern. down a fraction at 3943. the s&p, as maria mentioned, any positive close would be another new all-time high following a three-week win streak for that ind index. up 4.25 at 1764. >> will we or won't we close at another all-time high for the standard & poor's? let's check in with bob pisani. >> it's very cautious. we're hitting new highs. defensive names, consumer stocks moved us. look how we're moving into territory. kimberly-clark, clorox, snapple. put up the old names, tesla, face
'm lucky that i have a brother-in-law who is in his 90s and he was in world war ii and he got out, got the gi bill, went the wharton school and said, john, you ought to get some of this adp shares and now i have 300 of them. and as i read the annual report that came out this fall, it says, boy, business is going to boom. >> no, sir, it's a great stock. i know it's at its high. i don't care, that and paychex are both great stocks. it'll be terrific. and that, ladies and gentlemen, is the conclusion of the "lightning round." >> the "lightning round" is sponsored by td ameritrade. ♪ like, really big... then expanded? ♪ or their new product tanked? ♪ or not? what if they embrace new technology instead? ♪ imagine a company's future with the future of trading. company profile. a research tool on thinkorswim. from td ameritrade. so if you have a flat tire, dead battery, need a tow or lock your keys in the car, geico's emergency roadside assistance is there 24/7. oh dear, i got a flat tire. hmmm. uh... yeah, can you find a take where it's a bit more dramatic on that last line, yeah? ye
salary would be against european law. so they have to find other ways. they're desperate. they need to control costs they don't want costs to go up. they're losing money, they're in trouble. >> okay. and what damage do you think this will do if they're on strike for -- how long are they going to strike, for two weekends or three weekends? what damage will it do? >> to their pore lar support? probably not much. they might have to repay some tv money. that wouldn't be nice. see how this strike will have an effect on hollande will get what it wants. they just look degreedy and stupid, i have to say. >> fair point. peter, thanks very much indeed for that. peter bullen, european soccer writing for "sports it illustrated." let us know what you think about this, but with you know, are they going to look degreedy and stupid, these football clubs? e-mail us worldwide@cnbc.com. >>> to remind you where we stand with futures right now, it's a fresh trading month, of course, and after the close yesterday when the dow was down 0.5%, the s&p 500 is also down 0.4%. right now, we are implied, what,
to the mental health parody law will help people make those connections. >> yeah, that's true. so doris, help us follow the money on mental illness. what kind of funding is mental illness treatment getting? is it enough? is it going to the right places? how might it be different? >> debbie is absolutely right. we've had terrible cuts in mental illness health care across the country. there's no place we could use more money for more services. one of the things that's missing when we discuss, even in the mental health community, where those dollars need to go is that we have the vast majority of people who are not a danger to anyone else. they can walk in and seek services. they know they need help. they can get -- their services may not be what they should be, but they can seek help. then you have this very small segment of people who are the ones that primarily drive these negative impressions that debbie's talking about. and they can step in and seek services. and so no matter how much money we throw at them they're still going to be out there because they're lost in a di
're not allowed to discuss it and the law is very clear we can't talk about it. there were other allegations, for example, that the nsa had a direct connection to google. those were all false. we've actually looked to make sure that isn't true. and if they had wonone, it would be illegal and i'm sure they don't. >> let's talk about if sthees new allegations are true, is doing 8 -- google being hypocritical? they say there's a big difference between google and nsa and jonathan schindler, from u.s. naval war college. yes, google does have that user agreement, so there's a little transparency there. but they do collect all that data on their users, just like the nsa is doing right now. >> well, i think there's a bigger difference there. it's not just the fact they have a policy. it's the fact that you're voluntarily using their services. you understand while you use their services, and you may not be paying a fee for it there's something happening for them to be able to monetize it. you have the choice to use google service or some alternative. if what is being said is stru
blow to the new law. a new study predicts as many as 129 million americans will be dropped by their current plans and be forced to buy much more expensive plans instead. the author of that study is going to join us live. >>> and we're just a few hours
payment on his home, taking a hike is a lot easier. by law in arizona and nine other states, the bank cannot go after any of his other assets, but his credit rating will suffer. aren't you fearful that you're gonna get a reputation as being a deadbeat? >> yeah. but with the money savings that i will have in four to six years, i'm confident i'll have enough money to buy my way into a house if i wanted. >> so you don't feel any-- even a twinge of guilt? >> no, especially after dealing with my lender, trying to contact them. none at all. >> neither do jean ellen schulik and danny kuehn. they bought their phoenix bungalow three years ago for nearly $400,000. the bank now values it at $85,000. even though they can afford the mortgage payments, they felt they were trying to bail out an ocean with a bucket. >> no logical business person would do anything other than walk away. and so there was a lot of soul-searching, and i did a lot of crying, 'cause i'm in love with this house. and every day, i would redo the math and think, "maybe we missed something, you know? this just can't be right." >
that and elimit had economic law? >> well, it's -- you know it's an asset. would you say treasury bills are money? i don't think they're money either. >> why do central banks hold it. >> it's a former reserve. >> why don't they hold diamonds. >>> what does ron paul think of his son's threat to the nomination of janet yellen? >>> twitter's boarder to become diverse. kara swisher who broke the news will tell us about it as soon as "squawk on the street" comes right back. the american dream is of a better future, a confident retirement. those dreams, there's just no way we're going to let them die. ♪ like they helped millions of others. by listening. planning. working one on one. that's what ameriprise financial does. that's what they can do with you. that's how ameriprise puts more within reach. ♪ [ male announcer ] meet mary. she loves to shop online with her debit card. and so does bill, an identity thief who stole mary's identity, took over her bank accounts and stole her hard earned money. unfortunately, millions of americans just like you learn all it may take is a little misplaced informa
's apparently the number of people able to sign up for the health care law on its first day. up next, find out what the former health and human services secretary michael levitt think the white house needs to do now to get the affordable care act back on track. free research re, customizable charts, powerful screening tools, and guaranteed 1-second trades. and at the center of it all is a surprisingly low price -- just $7.95. in fact, fidelity gives you lower trade commissions than schwab, td ameritrade, and etrade. i'm monica santiago of fidelity investments, and low fees and commissions are another reason serious investors are choosing fidelity. now get 200 free trades when you open an account. bny mellon combines investment management & investment giving us unique insights which help us attract the industry's brightest minds who create powerful strategies for a country's investments which are used to build new schools to build more bright minds. invested in the world. bny mellon. the report also saying that cms had not collected 225.6 million in overpayments that it should have collected. n
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and mischaraterized the nsa. this is definitive. unless they're lying, the nsa follows all of the laws, regulations and policies and assertions do a grave disservice to the nation, its allies and partners and the money who make up the nsa. >> i was in the antisnowden camp but something i read yesterday in "the new york times" gives me a little bit of pause. they pointed out that the nsa has 35,000 people working for it. it has a budget of $10.8 billion. at this point they are collecting so much information. >> no morsel is too small? >> yeah. it's a little staggering when it used to be you would do whatever you can when the agency first started. you would do whatever you can. technologically they can do anything and there aren't questions. >> i remember why you take it at face value what the nsa is saying. the fact that they're collecting 320 million or 320,000 -- >> i take it at face value because i don't care what they're finding out. right, if i do something wrong, then i'll worry about it. but i'm not smuggling meth, i'm not walter white. >> the bigger issue is if you have somebody who's gettin
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